Reliable intel donated to Curbed has it that the manufacturing/film studio building at 1130 W Monroe has been purchased by South Street Capital for conversion to 30,000 square feet of office space. South Street has been actively buying up smaller vintage buildings in the West Loop and elsewhere (see here and here). Closing on the property for $3.8M, the real estate investment firm will relocate their offices to the building and invite other compatible firms to lease shared space. Plans will utilize some of the building's eccentric existing features—45-foot-high atrium with interior balconies, roof deck, wall of windows, and industrial kitchen—and add skylights, a gym, "theater-styled presentation space", and 15 conference rooms to complete the makeover. The building's outsized personality prompted our tipster to kid that South Street "would also consider flipping it to Joakim Noah for his personal residence." And it's worth mentioning that the building, hosting a production company for the past 20 years, helped give birth to The Untouchables. We're just glad to see more office consolidation at the heart of the West Loop bolstering the daytime workforce.
·South Street Capital [official]
·Development Watch [Curbed Chicago]